Regulators Did Not Require Reviews of HNA's and Wanda's M&A Deals, China Banking Association Says(Yicai Global) Sept. 26 -- Bank reviews of enterprises' mergers and acquisitions are for prudent management, and the China Banking Regulatory Commission (CBRC) did not require examinations of the M&A deals of HNA Group Co. and Dalian Wanda Group Co., Pan Guangwei, executive vice president of the China Banking Association, said at a press briefing yesterday.
In mid-June the CBRC made banks evaluate the credit and risk analyses in the transactions of several domestic firms including Wanda Group and HNA Group, and the inspections mainly targeted large private conglomerates that made aggressive overseas investments in recent years with large risk exposure in the banking sector, previous media reports indicated.
The CBRC did not disclose the relevant documents publicly and has not denied the reports.
